Four-bedder at Beverly Hill clocks $2.8 mil profit in six years
Four-bedder at Beverly Hill clocks $2.8 mil profit in six years. The sale of a four-bedroom apartment in Beverly Hill witnessed the largest price increase during the week of July 26 to August 3. The 3,778 square foot apartment reportedly sold for $8.9 million (or $2,367 per square foot) on July 28. The 18th-floor apartment of the freehold condominium was formerly bought for $6.1 million (or $1,615 psf) in June 2016. The owner saw a $47% increase in wealth after just six years of ownership, or $2.8 million.
The boutique condominium, which is in District 10 and is located on Grange Road, was constructed in 1983 and has 88 total units. Within a five-minute stroll of the development is the Thomson-East Coast Line’s Orchard Boulevard MRT Station, which is expected to open in the latter part of this year. The One Tree Hill enclave, which includes private homes like the Orchard Bel Air, which was just placed up for collective sale, and One Tree Hill Residence, is across the street. The Zion Food Centre and Great World City are additional amenities.
The second-most profitable transaction of the week happened at One Amber. The freehold condominium, which is located at Amber Gardens in the Marine Parade district and has a total of 562 apartments, was completed in 2010. Only a short trek separates East Coast Park from the closest MRT station, Tanjong Katong on the East-West Line. There are many well-regarded schools in the area, including the Canadian International School (Tanjong Katong Campus), Etonhouse International School (Broadrick), Tanjong Katong Primary and Secondary School, Tanjong Katong Girls’ School, and Chung Cheng High School.
The three-bedroom, 1,572 square foot home was sold on July 29 for $3.2 million (or $2,017 per square foot). In June 2006, it had been sold for $1.3 million (or $799 per square foot), representing a gain of $1.9 million or an annualized profit of 6% over the preceding 16 years.
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